Alternative Networks Share Discussion Threads

[s2lowner] 23/12/2016 12:55

Yes I have also got FYFFES and they have been taken out but at least at a reasonable premium and with the final dividend payment. Noticed all the non execs have resigned with immediate effect.

[spectoacc] 23/12/2016 10:32

So that's it for the bid, all gone through and shares suspended, just awaiting cash into a/c. Goodbye a decent divi payer & IHT stock, hello CGT bill - shouldn't complain, but as the IC put it - "AN goes out at a low". Should have gone for a lot more IMO.

[spectoacc] 29/11/2016 09:45

19th Dec for the meeting; not long for any counter-bidder to emerge. Still sitting tight here.

[spectoacc] 26/11/2016 12:13

Thanks @s2lowner, good point re AIM, couldn't agree more! There's the odd good company, generally family-dominated ones - Nichols would fall into that category.

More interested in which are IHT-qualifying - plenty on AIM aren't. Seems the good ones are either over-bought, bought (AN.!) or, as you say, switch listing.

[spectoacc] 25/11/2016 16:21

Some fairly anodyne comment in the IC today, though with a mention of the possibility that shareholders may want more.

Assuming the deal goes through - anyone recommend another decent IHT AIM punt for the cash?

[spectoacc] 22/11/2016 13:01

Thanks @s2, thought that must be the case. Pity. Investec selling I see; surprised so many large blocks going through c.2.5p below the bid price.

[s2lowner] 22/11/2016 12:43

I have had confirmation from AN that no final dividend will be paid as it is anticipate that the acquisition will have been completed by that time

[s2lowner] 21/11/2016 15:37

From the takeover panel website in brief summary of the rules:

When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced (30% of the voting rights of a company is treated by the Code as the level at which effective control is obtained).

I am no expert but why not in this case ?

Kestrel Partners has shorted the shares 1.45 % would that be to underpin the share price of their holding I can't see them listed as a major shareholder

[spectoacc] 21/11/2016 14:01

Don't see anything untoward in how the offer's come out, but they make comments like:

"Today, Alternative Networks faces rising demand from customers to procure, manage and support the complete chain of enterprise IT and communication solutions"

then proceed to offer us a derisory sum around 40% below recent highs.

Holding on in the hope of a counter-bid, but I agree it's unlikely.

[s2lowner] 21/11/2016 12:45

Daisy an AIM company taken private last year has taken over so expect no favours its obvious that the Stock market doesn't work for them and it doesn't want loads of little shareholders.

It wouldn't be that surprising if it makes a miraculous financial recovery soon after it goes private and the existing Directors or those how enthused over the deal do nicely out of it.

If the shares weren't so under rated then this type of deal wouldn't have been feasible but they will save millions on dividends, financial advisors, stockmarket listings etc

I would have expected about £400 dividend in April for the year end does anyone know if that is to be honoured ? as the takeover is expected to be taken over by the year end.

I wonder how long they have been in discussions if that overlapped with the rns announcements about profits etc ?

You get a lot of companies announcing that they are in discussions with xyz about a possible takeover but not in this case why ?

They must have been having behind the scenes discussions with advisors Rothschilds and Investec who were so generous in their suggestion of what a reasonable market price how long have these discussions being going on for?

They have had behind the scenes discussions with major shareholders as well

Not happy

[rhubarbcrumble] 21/11/2016 11:35

As a long term holder, I am very disappointed with the terms of the offer.

I too bought this share for IHT purposes as well as the growing dividend.

I notice that Octopus are supporting the deal. I imagine that this is in their IHT portfolio.

I doubt that there will be a counter offer. The directors are supporting it, having taken advice.

This suggests to me that the turnaround may be a long time in coming and that the profit warning may not have been the last.

[spectoacc] 21/11/2016 09:05

Scheme of Arrangement & 57%+ irrevocables, but counter-bid not out of the question - they need 75%. If it is them buying today they might creep over, but otherwise I'm looking for a counter-bid. I'd say this is c.£2 short of a knock-out offer. It's not even the average price for the past 12 months.

Understood @Lord Gnome - not sure I've anywhere else for the money atm! Particularly disgruntled as this was an IHT purchase for me.

No mention of the Dec Final divi that I can see.

Edit - the 3m-odd that have gone through in blocks this morning have all been at below 335p - assuming that's not your sells @Lord Gnome, it doesn't bode particularly well for a counter-bid at a more reasonable price.

[wanttowin] 21/11/2016 08:55

What a rip off, amazed that this derisory offer has been accepted. I suspect brown envelopes under the table has occurred, as a long term holder I am disgusted.

[lord gnome] 21/11/2016 08:40

You are right Speccy, but having spent all the time since my purchase with the share price under the water I am just happy to get out at a small profit and recycle the cash elsewhere. When I bought in at 315 I had high hopes that we might see 500 again, but then the profit warning came along and upset the apple cart. It was then always going to be a long haul, so today's news provides a quick, easy and profitable exit for me.

[spectoacc] 21/11/2016 08:33

Can't go bust taking a profit, but I maintain this isn't a good price.

[lord gnome] 21/11/2016 08:29

I'm out. Sold on the bell. Thank you and goodbye. Nice way to start the week.

[spectoacc] 21/11/2016 08:22

Looks like they're buying in the market in size, but could be wrong - either way, a glance at the chart in the header shows just what a poor offer this is.

[spectoacc] 21/11/2016 07:25

Not an offer I'll be accepting - it's been over 500p 4x in the past 12 months, that's nearer where the offer should be pitched.

[spectoacc] 27/9/2016 07:27

If it was an unscheduled update, "more than 10%".

However, doesn't read too terribly - down to some projects getting pushed into the following year.

Will no doubt still dive this morning tho.

Edit - and a lot of blame on the EU Referendum, the last refuge of the scoundrel.

[mida5] 27/9/2016 07:20

The Board now expect an Adjusted EBITDA* for the year ending 30 September 2016 somewhat below management's previous expectations.

How much is, somewhat?

[wanttowin] 10/8/2016 14:44

Go on my beauty !

[dadedidodu] 10/8/2016 11:43

Something is cooking